Sub-Saharan African Stocks: East African Breweries, Guaranty, NPF, Zenith

Kenya’s All-Share Index fell for a ninth day, the longest streak of losses since March 2009, dropping 0.9 percent to close at 78.78 by 3 p.m. in Nairobi.

Mauritius’s SEMDEX Index increased for a third day, adding 0.4 percent to close at 1,924.01 by 1:30 p.m. in Port Louis, the highest since March 2008.

The Nigerian Stock Exchange All-Share Index added 0.3 percent to 24,942.38 by the 12:30 p.m. close in Lagos, according to data e-mailed by the bourse. The exchange postponed the start of extended trading hours to Dec. 6 from Dec. 1, spokesman Wole Tokede said by phone today, without providing reasons.

The Ghana Stock Exchange All-Share Index slumped 1.3 percent to close at 6,996.57 by the 1 p.m. close in Accra. It was the worst-performing gauge among more than 90 tracked by Bloomberg.

Namibia’s FTSE/Namibia Overall Index was little changed at from yesterday’s close at 823.15 by 5 p.m. in Windhoek.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

East African Breweries Ltd. (EABL KN), 43 percent owned by Diageo Plc, slumped 4 shillings, or 1.9 percent, to 208 shillings, the lowest in a month and paring its increase this year to 43 percent. The stock was the biggest contributor to the Kenyan index’s drop today. “The decline is because retail investors are taking profit,” Renaldo D’souza, an analyst at Nairobi-based Genghis Capital Ltd., said in a telephone interview today. The stock reached the highest since May 1997 on Nov. 19.

Guaranty Trust Bank Plc (GUARANTY NL), Nigeria’s third- largest lender by market value, rose to a three-week high, adding 45 kobo, or 2.8 percent to 16.45 naira. The bank led gains in the nation’s stock index after Asset Management Corp. of Nigeria, a state-owned company set up to buy bad debts from the country’s lenders, said it plans to sell 2.5 trillion naira ($16.6 billion) of three-year, zero-coupon bonds to finance those purchases, according to Chief Executive Officer Mustafa Chike-Obi, who spoke in an interview in Lagos after the market closed yesterday.

Zenith Bank Plc (ZENITHBA NL), the biggest, rose for a second day, climbing 13 kobo, or 0.9 percent, to 15.14 shillings.

NPF Microfinance Bank Plc (NPFMCRFB NL), a Nigerian financial company, added 6 kobo, or 4 percent, to 1.56 naira. The Nigerian bourse listed 2.3 billion of the company’s shares today.

Standard Chartered Bank Kenya Ltd. (SCBL KN), the East African nation’s third-biggest lender by market value, retreated 4.25 shillings, or 1.6 percent, to 261 shillings, the lowest in a month, on the first day the stock traded without the right to a dividend of 4.75 shillings.

To contact the reporters on this story: Eric Ombok in Nairobi at eombok@bloomberg.net; Vincent Nwanma in Lagos at vnwanma@bloomberg.net.

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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